This chart displays Bitcoin's price progression in relation to its halving events, along with the impact on all-time highs (ATHs) after each halving. Here's an analysis of the key data:
### Key Observations:
1. **Four Bitcoin Halvings Displayed**: The chart tracks four Bitcoin halving events (starting from Halving 1 through to Halving 4) and projects into the future for Halving 5. Each halving is followed by significant price growth.
2. **Consistent Price Increase After Each Halving**:
- **Halving 1**: After the first halving (2012), Bitcoin's price shot up from under $100 to over $1,000 in the following months.
- **Halving 2**: The second halving (2016) marked the beginning of a rise from about $500 to an ATH near $20,000 in 2017.
- **Halving 3**: The third halving (2020) again saw a sharp rise in Bitcoinâs price, peaking around $69,000 during the subsequent bull run.
- **Halving 4 (2024)**: This halving, projected for around 2024, shows a continued pattern, suggesting the possibility of a future price surge.
3. **11% ATH Zones**:
- Each halving zone highlights a consistent pattern, where approximately **11% of the total Bitcoin supply reaches new all-time highs** during these periods. This could be interpreted as a crucial period of supply and demand balance shifting, causing price increases as market participants buy in anticipation of higher prices post-halving.
4. **Price Progression Logarithmic Growth**:
- The chart uses a logarithmic scale, which shows the exponential growth pattern of Bitcoin's price. Even though each post-halving ATH has been lower in percentage terms than the previous one, the absolute price growth has been remarkable with Bitcoin reaching tens of thousands of dollars.
### Future Implications (Halving 5):
- **Halving 5 Projection (2028)**: Although we donât yet have data on Halving 5, the trend suggests that it may result in a new price surge following the established pattern. This would support long-term price growth, albeit with diminishing percentage gains compared to earlier halvings.
